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Educational News

Over 800,000 student loan borrowers remain in backlog for forgiveness, affordable repayment plans

More than 800,000 federal student loan holders remain stuck in a backlog of applications for an affordable repayment plan or debt forgiveness, a new court filing shows. As of the end of December, 734,221 borrower requests to transfer into an income-driven repayment…
Editorial News

Fed holds interest rates steady: What that means for mortgages, credit cards and loans

The Federal Reserve kept its benchmark interest rate unchanged Wednesday at the conclusion of its first policy decision of the year. In the face of escalating political pressure from President Donald Trump, a softening labor market, persistent inflation pressures and an uncertain geopolitical landscape, “there is no shortage of…
Legal News

Mortgage demand drops 8.5%, as interest rates swell to the highest level in 3 weeks

After dropping sharply, mortgage interest rates rose last week for the first time in a month. That pushed total mortgage demand down 8.5% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract…
Government News

Trump wants lower borrowing costs but a Fed rate cut may be months away

The Federal Reserve is set to announce if it will adjust its benchmark interest rate on Wednesday, with President Donald Trump pushing for a rate cut. Trump renewed his call for interest rate cuts in a speech at the World Economic Forum on Jan.…
Legal News

Trump calls for Congress to enact 10% credit card interest rate cap; bank stocks rise

President Donald Trump on Wednesday urged U.S. lawmakers to pass legislation to limit credit card rates to 10%, following his social media post this month ordering banks to voluntarily lower their rates. “I’m asking Congress to cap credit card interest rates at 10% for…
Bankruptcy News

Amazon threatens ‘drastic’ action after Saks bankruptcy, says $475M stake is now worthless

Amazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement.  When Saks acquired Neiman Marcus for $2.7…
Educational News

Trump administration’s delay on student loan collections offers borrowers time to get current

Student loan borrowers in default got a reprieve last week: The Trump administration said Friday it would postpone forced collections, for now. The pause is an about-face for the Department of Education, which had announced in late December that it would start seizing defaulted borrowers’…
Editorial News

Danish pension fund to sell $100 million in Treasurys, citing ‘poor’ U.S. government finances

Danish pension operator AkademikerPension said it is exiting U.S. Treasurys because of finance concerns as Denmark spars with President Donald Trump over his threats to take over Greenland. Anders Schelde, AkademikerPension’s investing chief, said the decision was driven by what it sees as “poor [U.S.]…
Government News

Bond sell-off accelerates as Trump ramps up tariff threats

U.S. Treasurys and other countries’ government bonds continued to sell off on Tuesday, as the White House’s rhetoric on tariffs fueled fresh fears of a trade war between the U.S. and Europe. By 6:10 a.m. ET, yields on U.S. Treasury…
Legal News

Education Department to delay collections on defaulted student loans

The Education Department announced on Friday that it will delay the implementation of wage garnishment and other involuntary collection efforts affecting defaulted student loan borrowers. The department said the delay affects involuntary collections on federal student loans through wage garnishments and the Treasury Offset…